William Tracy

Assistant Professor

tracyw@rpi.edu
518-276-2225

Areas: Disequilibrium Strategic Behavior, Applied Evolutionary Computation, Agent-based Modeling, International Strategy, Firm Learning, Chinese Business Environment

Areas of Instruction: Management  

Education

• Ph.D. in Management, UCLA Anderson School of Management
• B.A. in Economics (Honors), Swarthmore College
  

Research & Publications

Professor Tracy’s research is dedicated to the development of data-driven, predictive, computational models of strategic behavior.

For over 150 years, economists have exploited analytical mathematics to better understand the behavior of economic agents. The contribution this approach has made to human knowledge is undeniable. However, there are also limitations to this approach. For example, mathematical economics was unable to successfully predict the optimal strategy for economic transition; nations that followed the "shock therapy" strategy supported by mathematical economics have lagged behind nations like China, which took a heterodox approach to their economic transition. Additionally, the equilibrium orientation of mathematical economics seems ill-equipped to guide us through the disequilibrium of the current financial crisis.

Over the last 33 years, researchers in the fields of computer science and cognitive science have made significant strides in the development of computational solution paradigms. These paradigms often identify the same equilibria as analytical mathematics. However, many computational solution paradigms employ an observable disequilibrium process. This should allow computational (agent based) modelers to better understand disequilibrium in economic systems.

More details on Professor Tracy’s research and previous experience can be found on his personal website.